• IJIEM

Management in the Public Broadcasting Service: The reasons for a change of strategy (pp. 69-76)

Biljana Ratkovic Njegovan, Vladimir Radenkovic
Being faced with massive competition, public service broadcasters are in a constant struggle for audiences’ attention, and are increasingly changing their outdated, patriarchal and elitist position in order to radically modernize. For public broadcasters the choice of future business strategy depends on their capability to introduce technological changes and provide linear broadcasting and non-linear media, as well as on the quality of programming that can resist the pressure of private broadcasters’ competition. That is why the time is ripe for a transitional transformation of the PSB in order to bridge the gap between senders and receivers of media messages. Over the course of this transition the public service broadcasting develops into the public service media. The intensive orientation of media firms to portfolio strategies is due to diversity of their production programme, increased and diversified business areas of their interest, as well as to the necessity of simultaneous development of new business concepts and communication products. Media companies have to be flexible enough to respond to the challenges of the digital switchover and fragmentised audience, while still promoting public interest as the guiding principle of their business management.

Штампа Ел. пошта

Emerging Markets Unidirectional Sensitivity Coefficient as an Indicator in Portfolio Investors’ Decision Making (pp. 63-68)

Dobromirov Dušan, Radišic Mladen, Kupusinac Aleksandar and Maric Branislav
This paper examines linear correlations between six emerging European stock market indices and the world’s most significant index Standard & Poor’s (S&P) 500. Using a unique dataset within three years of data on the indices from the markets in Bulgaria, Croatia, Hungary, Romania, Serbia and Slovenia we compare movements of the indices, find out the influences on their regularity in day-to-day movements and calculate their unidirectional correlation. We introduce movement relative sensitivity to changes in S&P 500 values for each regional index, in order to better describe unidirectional changes. Results for unidirectional correlation and movement relative sensitivity show that these two indicators can be important factor in an investor decision making process. Furthermore, we explain how these two indicators can be used as practical tool in algorithmic trading system development. Finally, we show that average unidirectional sensitivity coefficient can be used as volatility indicator.

Штампа Ел. пошта

Systems Thinking Curriculum as “Strategy” (pp. 53-61)

Çaglar Güven
The number of Industrial Engineering Departments has recently grown to more than 30 in Turkey, and competition for good students is tough. Most departments follow conventional industrial engineering curricula based on the North American model where systems concepts and systems thinking are not as much in focus as quantitative analysis and mathematical modelling. The IE Department of Middle East Technical University has a tradition of emphasising the systems approach and has recently decided to develop an educational strategy by expanding and building upon this tradition. It is thought that emphasising critical systems thinking is a prerequisite for making effective use of mathematical models and for effective IE practice. This paper reports on the methodology and the process of curriculum planning as strategy.

Штампа Ел. пошта

Multiscale analysis of microstructure causality in the foreign exchange market (pp. 47-52)

Nikola Gradojevic
Recent scholarly work on the causal relationship between exchange rate movements and currency order flows has provided mixed results. This paper proposes a wavelet approach for determining multiscale causality between the Canada/U.S. dollar returns and aggregate market order flow. Evidence of bi-directional causality that contradicts the microstructure literature is found for almost all time scales. Multiresolution analysis identifies significant structural breaks in the data that are potentially driving such findings.

Штампа Ел. пошта

The Cambridge Manufacturing Leaders' Programme (pp. 41-46)

M.J. Platts
As with all Cambridge teaching, the Cambridge Manufacturing Leaders' Programme is based on oneto- one tutorial supervision, comprising guidance throughout a major strategic development project in the programme participant's company, interspersed with reflective study time spent in Cambridge. In this paper a description of the course is set in a wider philosophical context, looking at the role of work in a personal developmental sense, and the responsibility carried by manufacturing leaders for shaping and guiding that process. It is shown that the programme is rooted in and embodies important aspects of our European heritage regarding work as a learning process and the master/apprentice relationship as a way of giving educational guidance.

Штампа Ел. пошта